Trade Summary
20140124
Long 2 TF 1156.2, 1156.3, +0.5, -0.5
Long 1 ES 1806.5, +2.0
Short 1 YM 16037, -7
Short 2 TF 1156.0, 1156.2, +1.4, +0.5
Long 1 TF 1152.1, +1.2
Long 1 YM 15961, +13
Long 1 TF 1147.0, -0.5
Long 1 TF 1145.8, -0.5
Long 2 ES 1898.5, 1898.75, +1.0, -1.0
Long 1 TF 1144.1, -0.5
Long 2 TF 1141.7, 1141.6, -0.5, -0.2
Long 2 TF 1141.2, 1140.9, +1.5, +1.4
Short 2 NQ 3568.5, 3568.5, +2.0, +6.0
Total ES +2.0
Total YM +6
Total NQ +8.0
Total TF +3.8
When prices collapse early in a Persistent direction, there's little chance to get short as the bounces can be shallow. Today was just such a beginning for TF, and the bounce that came in the YM proved to have bigger extension. This can leave you trying to counter trend trade the extremes. I can't say I took any of those potential buy reversals in TF out of trend model, and I did trade 1 lots with small stp's trying to catch the sharper reactions. Best I can say is that when a fourth series of lows were arriving at a set of support numbers in the TF, I had the gumption to re enter after a series of stp-outs chewed early profits down to almost the bone. This would have discouraged many a trader and no doubt many of my students in the chat room at the time. But sometimes trading requires as much persistence as the trend itself. Wishing a good weekend to all. Stay disciplined. If your Trade Entry Models work more often than fail, then the Plan will bring you back into profits if you stay with it.
